The aim of the study was to show how large companies would like to use 'Internet of Things' technologies as effective tools by 2020 and where the greatest opportunities for value creation lie. The key findings: Most companies have now recognized the added value of IoT technologies - around 75% of respondents rate the opportunities of IoT positively. The majority of survey participants (81%) are also convinced that insights gained from IoT-based data can be shared effectively throughout the organization. However, the survey participants are not entirely without concerns: no less than 41% of respondents fear that cyber security in the IoT environment will be a difficult task to solve.

Cost reductions are a major driver for IoT projects. This includes automation solutions in particular: Almost half (42%) of participants would like to introduce an IoT-enabled building automation solution in the next two years. 63% of decision-makers expect building automation solutions to offer major savings potential, while 62% want to reduce their costs with the help of industrial automation.

Decision-makers also expect benefits from mobile applications: Two thirds of companies (67%) plan to introduce them within the next year. A third of those surveyed (32%) will even take this step in the next six months. The main reason given was possible cost savings of up to 59%.

In addition, 63% of the companies surveyed plan to analyze their customers' behavior using IoT technologies in 2016. The most important business benefits here include fast problem resolution, improved customer service and greater customer satisfaction.

However, one finding of the study is that companies are finding it difficult to get started with IoT and prove the actual added value. In addition, hardly any company can afford to do away with and replace the existing OT and IT infrastructure. The IoT is therefore more likely to complement existing investments and change business processes and results over time.

Jürgen Siefert, Vice President Industry at Schneider Electric, says: "The best way to introduce it is step by step. Companies can first demonstrate the benefits through pilot projects with a quick ROI before expanding the scope of application. An IoT solution should also prove itself by maximizing energy efficiency and optimizing plant performance and reliability. In recent years, the cost/benefit ratio of connectivity has also changed. Systems can now be integrated into a network with the help of chip systems (system-on-chip, SoC). Sensors have become affordable. Soon, businesses will be able to accurately monitor their entire facilities instead of just a fraction of them, as was previously the case.

The full 'IoT 2020 Business Report' can be requested here.